Stats You Didn’t Know about the UK Housing Market

Stats You Didn't Know about the UK Housing Market

If you’re looking to buy a UK property in the near future, you’ll want to know that you’re getting a good deal, right? Well then, you need to start researching the market as quickly as possible.

Time is of the essence, and that is because we’re on the verge of a bubble that could cause prices to soar very quickly. So, now is the best time to get involved and make your purchase. Doing so could mean you make a huge profit when the time comes.

Here are some facts that might help to convince you…

Average house prices in locations like Warrington stand at just over £172,000 at the current time. That figure is reflected in most locations in the UK. Of course, the average price of a home in London is much higher. The cheapest city to buy properties in the UK at the moment is Birmingham where the average home costs only £161,000.

Prices are set to rise to drastically that only 16% of people under the age of 35 are expected to be homeowners by 2019. If nothing else though, that means there will be a lot of potential buyers around if you decide to sell. Also, you will be selling to an older demographic, which is always a good thing if you want to avoid any financial stumbling blocks.

Between the years of 2012 and 2016, current figures suggest the number of homes in the UK will increase by 1.6 million. While that fact is certain to affect the market, experts don’t think it will be enough to drive prices down.

Infographic By Abacus Law